reports
- Geir Hiller Holom
- Geir Hiller Holom
BerGenBio (Sell, TP: NOK0.05) - Q1 report
While the Q1 report contained no large surprises, the company announced earlier this week a clinical collaboration with UT Health San Antonio and Sobi to evaluate bemcentinib in combination with Sobi’s pacritinib in patients with advanced lung adenocarcinoma. We reiterate our SELL and NOK0.05 target price on our concerns about the company’s ability to generate sufficient investor interest during its financial runway and ahead of the next need for financing.
- Geir Hiller Holom
BerGenBio (Sell, TP: NOK0.05) - Our concerns remain
While opex fell sharply in 2023 and YOY in Q4, and management maintained the timeline for its BGBC016 study, we remain concerned about a lack of major share-price catalysts ahead of the next needed capital raise. We reiterate our SELL and NOK0.05 target price.
- Geir Hiller Holom
- Joachim Gunell
- Martin Huseby Karlsen
- Ole-Andreas Krohn
- Tomi Railo
- Geir Hiller Holom
BerGenBio (Sell, TP: NOK0.05) - Too little before it’s too late
Following the recent rights issue and detrimental terms for the stock, we remain concerned about the company’s ability to produce substantial share-price catalysts during its financial runway (we estimate until 2024e). We struggle to see the current phase Ib/IIa study producing results considered attractive enough for investors ahead of the next needed capital raise. We reiterate our SELL and have cut our target price to NOK0.05 (0.11).
- Douglas Lindahl
- Frank Maaø
- Geir Hiller Holom
- Håkon Astrup
- Hanna Lindbo
- Jesper Ingildsen
- Johannes Grunselius
- Mattias Holmberg
- Miika Ihamaki
- Nicolas McBeath
- Niklas Wetterling
- Ole-Andreas Krohn
- Simen Aas
- Simen Mortensen
- Tomi Railo
WRT1V WARTSILA OYJ ABP
ABB ABB LTD.
STERV STORA ENSO OYJ CLASS R
TYRES NOKIAN RENKAAT OYJ
OSSR OSSUR HF.
PEAB B PEAB AB CLASS B
TOP TOPDANMARK A/S
AXFO AXFOOD AB
ENTRA ENTRA ASA
BGBIO BERGENBIO ASA
ALFA ALFA LAVAL AB
WIHL WIHLBORGS FASTIGHETER AB
NYF NYFOSA AB
EPRO B ELECTROLUX PROFESSIONAL
KAHOT KAHOOT
SAVE NORDNET
BOL BOLIDEN AB
BEIJ B BEIJER REF AB
- Geir Hiller Holom
BerGenBio (Sell, TP: NOK1.00) - Detrimental rights issue
The company announced that it intends to carry out a rights issue of shares to raise gross proceeds of up to NOK250m, with preferential subscription rights for existing shareholders. We see the terms of the financing as detrimental to the stock and we also struggle to identify substantial share-price catalysts for the next 12–18 months. Thus, we have cut our target price to NOK1 (9) and downgraded to SELL (HOLD).
KALERA PLC RECEIVES NOTICE OF DELISTING FROM NASDAQ
KALERA PLC RECEIVES NOTICE OF DELISTING FROM NASDAQ Orlando, Fla, April 10, 2023 (GLOBE NEWSWIRE) -- Kalera Public Limited Company (“Kalera PLC” or the “Company”) (Nasdaq: KAL), a vertical farming company headquartered in Orlando, Florida, today announced that on April 6, 2023, it received a delisting notification from Nasdaq Stock Market LLC (“Nasdaq”) advising the Company that Nasdaq would suspend trading of the Company’s common stock as of the opening of business on April 17, 2023. Nasdaq’s determination was based on the following: (i) Under Listing Rule 5101, the Company is a public s...
KALERA PLC ANNOUNCES ITS WHOLLY-OWNED AND MAIN OPERATING SUBSIDIARY, K...
KALERA PLC ANNOUNCES ITS WHOLLY-OWNED AND MAIN OPERATING SUBSIDIARY, KALERA, INC., FILES FOR CHAPTER 11 PROTECTION TO PURSUE FINANCIAL AND OPERATIONAL REOGRANIZATION Kalera, Inc. Files for Protection under Chapter 11 to Explore Strategic Alternatives Kalera, Inc. Agrees to $5.1 million Debtor-in-Possession (DIP) Financing to Support Continuing of Operations During Proceedings Kalera, Inc. Will Continue to Operate Houston and Denver Facilities and These Will Continue to Serve Kalera’s Existing Customer Base Orlando, Fla, April 04, 2023 (GLOBE NEWSWIRE) -- Kalera Public Limited Company (...
KALERA PLC ANNOUNCES COMPLETING THE SEPARATION OF INTERNATIONAL ASSETS...
KALERA PLC ANNOUNCES COMPLETING THE SEPARATION OF INTERNATIONAL ASSETS ACCELERATING TRANSFORMATION Separation will advance transformation of Kalera into a pure-play U.S. vertical farming company positioned for long-term growth and shareholder value creation; Reinforces Kalera’s commitment to reduce cash burn and accelerate time to become a cash flow positive company in the U.S. Orlando, Fla, Jan. 30, 2023 (GLOBE NEWSWIRE) -- Kalera Public Limited Company (“Kalera” or the “Company”) (Nasdaq: KAL), a vertical farming company headquartered in Orlando, Florida, announced today that in the ...
Kalera Outlines Additional Actions to Improve Profitability
Kalera Outlines Additional Actions to Improve Profitability Orlando, Fla, Jan. 13, 2023 (GLOBE NEWSWIRE) -- Kalera Public Limited Company (“Kalera” or the “Company”) (Nasdaq: KAL), a vertical farming company headquartered in Orlando, Florida, provided an update on the steps it has taken and its plans going forward to achieve cash flow break-even by the end of fiscal year 2023. “I continue to be very pleased with the commercial side of our business, specifically sales and operations. Demand for our products is stronger than ever across all channels, and our facilities are operating bette...
Kalera Shareholders Approve Reverse Stock Split
Kalera Shareholders Approve Reverse Stock Split Kalera ordinary shares expected to begin trading on a split-adjusted basis on December 23, 2022 Orlando, Florida, Dec. 23, 2022 (GLOBE NEWSWIRE) -- Kalera Public Limited Company (“Kalera” or the “Company”) (Nasdaq: KAL), a vertical farming company headquartered in Orlando, Florida, today announced that shareholders approved a reverse stock split of its outstanding ordinary shares (the “Ordinary Shares”) at a ratio of 100-for-1. The reverse stock split will become effective today, December 23, 2022, and Ordinary Shares will begin trading o...
Kalera Encourages Shareholders to Vote in Upcoming Extraordinary Gener...
Kalera Encourages Shareholders to Vote in Upcoming Extraordinary General Meeting Seeks to Avoid Delisting from Nasdaq Capital Market ORLANDO, Fla., Dec. 06, 2022 (GLOBE NEWSWIRE) -- Kalera Public Limited Company (“Kalera” or the “Company”) (Nasdaq: KAL), a vertical farming company headquartered in Orlando, Florida, will hold an extraordinary general meeting of its shareholders (the “EGM”) on December 15, 2022 at noon EST (5:00 p.m., Irish time) to seek shareholder approval of a reverse stock split. “The Board of Directors encourages shareholders to vote FOR the reverse stock split...
Kalera Announces Restructuring Process for German Subsidiary
Kalera Announces Restructuring Process for German Subsidiary ORLANDO, Fla., Nov. 28, 2022 (GLOBE NEWSWIRE) -- Kalera Public Limited Company (“Kalera” or the “Company”) (Nasdaq: KAL), a vertical farming company headquartered in Orlando, Fla., today announced that the Company has decided to initiate the restructuring of its German subsidiary, Kalera GmbH (f/k/a “&ever”) through a court-supervised process. Following Kalera PLC’s announcement on October 18, 2022 of its intention to divest the assets of its international business, the Company began exploring strategic alternatives in close...
Kalera Announces Third Quarter 2022 Financial Results
Kalera Announces Third Quarter 2022 Financial Results ORLANDO, Fla., Nov. 14, 2022 (GLOBE NEWSWIRE) -- (Nasdaq: KAL, “Kalera” or the “Company”), a vertical farming company, today reported its financial results for the third quarter ended September 30, 2022. “Although our balance sheet is challenged, we are meeting or exceeding our goals on both the top and bottom lines,” said Jim Leighton, President and Chief Executive Officer of Kalera. “Revenue more than doubled compared to the third quarter of last year and increased sequentially over the second quarter of this year, driven by...
Kalera Reports Preliminary Third Quarter 2022 Financial Results
Kalera Reports Preliminary Third Quarter 2022 Financial Results The Company will host a conference call on Tuesday, November 15 at 8:00 a.m. Eastern Time ORLANDO, Fla., Nov. 07, 2022 (GLOBE NEWSWIRE) -- Kalera Public Limited Company (“Kalera” or the “Company”) (Nasdaq: KAL), a vertical farming company headquartered in Orlando, Florida, today announced selected preliminary financial results for its third quarter ended September 30, 2022. Conference Call The Company will host a conference call on Tuesday, November 15 at 8:00 a.m. Eastern Time to discuss its results for the quarter ...
Kalera to Release Third Quarter 2022 Earnings on November 14
Kalera to Release Third Quarter 2022 Earnings on November 14 Kalera to participate in 2nd Annual Roth AgTech Answers Event on November 15 Orlando, Fla., Nov. 04, 2022 (GLOBE NEWSWIRE) -- (Nasdaq: KAL, “Kalera” or the “Company”), a vertical farming company, today announced it will release its financial results for the third quarter ended September 30, 2022 after the market closes on Monday, November 14, 2022. Conference Call The Company will host a conference call on Tuesday, November 15 at 8:00 a.m. Eastern Time to discuss the results and answer questions. ...
Kalera Announces Closing of Public Offering to Support Strategy Bringi...
Kalera Announces Closing of Public Offering to Support Strategy Bringing Operating U.S. Farms into Cash Flow Positive in 2023 Raised $8.84 million from existing and new investors to add liquidity. Orlando, Nov. 03, 2022 (GLOBE NEWSWIRE) -- ORLANDO, Fla., November 3, 2022 (GLOBE NEWSWIRE) – Kalera Public Limited Company (“Kalera” or the “Company”) (Nasdaq: KAL), a vertical farming company headquartered in Orlando, Florida, with operations in the U.S. and international markets including Europe, Asia, and the Middle East, today announced the closing on Monday, October 31st of a public offe...
Kalera Public Limited Company Announces Pricing of $8.84 Million Publi...
Kalera Public Limited Company Announces Pricing of $8.84 Million Public Offering Orlando, Oct. 26, 2022 (GLOBE NEWSWIRE) -- Kalera Public Limited Company Announces Pricing of $8.84 Million Public Offering ORLANDO, Fla., October 26, 2022 (GLOBE NEWSWIRE) – Kalera Public Limited Company (“Kalera” or the “Company”) (Nasdaq: KAL), a vertical farming company headquartered in Orlando, Florida, today announced the pricing of its public offering of an aggregate of 68,000,000 units at a public offering price of $0.13 per unit. Each unit consists of one ordinary share (or prefunded warrant in lieu...
Kalera to Divest Seed Genetics Business and International Assets
Kalera to Divest Seed Genetics Business and International Assets ORLANDO, Fla., Oct. 18, 2022 (GLOBE NEWSWIRE) -- (Nasdaq: KAL, KALWW; “Kalera” or the “Company”), a vertical farming company, announced today that it intends to divest its subsidiary, Vindara, and the assets of its international business. Vindara is expected to continue serving Kalera’s strategic custom seed needs and serving other indoor farming companies. The international business includes the previous &ever GmbH management team, and farming assets in Kuwait and Singapore. “We expect that these divestitures will address...
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